KUALA LUMPUR: The Ministry of Finance (MoF) has approved the import duty and sales tax exemption on face masks for the domestic market.
The government is aware of the difficulties faced by the rakyat in obtaining face masks due to the sharp rise in demand, said its Minister, Tengku Datuk Seri Zafrul Abdul Aziz.
“The public is encouraged to avoid excessive purchases to ensure adequate supply for all,” he said in a statement today.
In addition, to ensure sufficient supply in the domestic market, the government has imposed an export ban on face masks, he added.
Tengku Zafrul also disclosed that government-linked companies (GLCs) have to-date donated about RM60 mil in the form of medicine, medical equipment and personal protective equipment to the Ministry of Health (MOH).
He urged the corporate sector to emulate the generosity of GLCs in assisting the national efforts to combat the Covid-19 outbreak, pointing out that MOF has approved a tax deduction for contributions and donations in cash and kind by individuals and corporates to the Covid-19 Fund and the MOH.
Tengku Zafrul also said that preparations for the Second Economic Stimulus Package are underway and will take into account various stakeholders’ feedback to ensure the rakyat’s wellbeing, sustainability of private sector companies and the nation’s economic resilience in facing the challenges of Covid-19 and global uncertainties.
This would be in addition to the RM20 bil stimulus package announced in February.
The public is also invited to provide feedback and ideas for the stimulus package through the official MOF portal at http://pre2020.treasury.gov.my/, he added, disclosing that a number of initiatives announced in February are progressing smoothly.
Among them are service tax exemption for hotels effective March 1 and restructuring and rescheduling of loans by financial institutions for impacted borrowers, especially SMEs and B40 individuals. A soft loan fund worth RM3.3 bil has been provided by Bank Negara Malaysia.
In addition, key measures planned to take effect on April 1 are on schedule for implementation.
“These include the proposed deferment of monthly income tax instalments for the tourism industry, the reduction in the Employees Provident Fund employee contribution and the discount on electricity. Up to March 23, RM1.7 bill has been disbursed to relevant ministries and agencies, out of the total direct government allocation of RM3.2 bil.” – March 23, 2020, Bernama
